IQQ is trading at $24.12, down 1.77%, as concern over AI spending weighed on tech shares. - Tesla cut its 2026 capital-spending outlook, while Meta’s AI funding needs renewed investor concern. - Chip stocks and other megacap technology shares also fell, weighing on the information-technology-heavy ETF. - Higher oil prices amid Middle East tensions added to broader risk aversion, while U.S. equity futures were lower. The decline followed the previous session’s AI-linked optimism, as investors refocused on AI buildout costs and uncertain returns.